PAI Partners, a leading private equity firm, is in exclusive negotiations to acquire a significant stake in Alvest, a global leader in airport Ground Support Equipment (GSE). Upon completion, PAI will become Alvest's largest shareholder, partnering with a co-investor, while Ardian will retain a minority stake alongside the company's founders and management.

Founded in 2001, Alvest has established itself as a key player in the GSE market, offering innovative and sustainable products and services tailored for airlines, airports, and ground-handling companies. The company focuses on enhancing efficiency, safety, and sustainability in aviation operations, providing a range of services including design, manufacturing, distribution of GSE, spare parts, maintenance, and decarbonization solutions.

Headquartered in France, Alvest employs over 3,500 people globally and operates 10 industrial factories across the US, Canada, France, Belgium, the UK, India, and China. The company serves customers in more than 167 countries and provides services in over 250 airports.

PAI's investment aims to support Alvest's expansion and innovation, particularly in transitioning to electric GSE and enhancing its product and service offerings. This includes improvements in servicing activities, fleet management systems, and maintenance services.

Valentin Schmitt, CEO of Alvest, expressed enthusiasm about partnering with PAI and noted Ardian's continued support. He emphasized the importance of maintaining high-quality products and customer satisfaction as central to Alvest's development ambitions.

PAI Partners' Laurent Rivoire and Albin Louit highlighted their long-standing interest in Alvest and their excitement about collaborating with its management team to drive growth. They believe Alvest's leadership in GSE and its unique technologies position it well to contribute to a more efficient and environmentally friendly aviation sector.

Ardian's Alexandre Motte also expressed enthusiasm for the partnership, acknowledging their long history with Alvest and the management team. He thanked Alvest's leadership for their trust as they embark on this new phase of development.

The transaction is expected to close in the summer, pending customary regulatory approvals.

PAI Partners manages over €28 billion in assets and has a strong track record of investing in market-leading companies globally. Since its inception in 1994, the firm has completed over 100 investments across 12 countries, realizing more than €25 billion from over 60 exits.

Ardian, a prominent private investment house, manages or advises $176 billion in assets for over 1,720 clients worldwide. The firm offers a diverse range of investment opportunities across Private Equity, Real Assets, and Credit, emphasizing responsible investment and a collaborative culture among its 1,050 employees across 19 global offices.